Core Viewpoint - Omega Flex, Inc. experienced a decline in both revenue and earnings per share in the third quarter of 2024, primarily due to decreased market demand and challenges in the housing sector [1][2][4]. Financial Performance - The earnings per share (EPS) for Q3 2024 was 46 cents, down from 55 cents in Q3 2023 [1]. - Revenue for Q3 2024 totaled $24.9 million, a decrease of 9.5% from $27.5 million in the same quarter of the previous year [1]. - Cumulative revenues for the nine months ended September 30, 2024, were $74.7 million, reflecting a 10.3% decrease from $83.3 million in the same period of 2023 [2]. - Net income for Q3 2024 was $4.6 million, down 17.2% from $5.6 million in Q3 2023 [4]. - For the nine-month period, net income was $13.3 million, a 16% reduction from $15.9 million in the prior year [4]. - The EPS for the nine months ended September 30, 2024, was $1.32, compared to $1.57 for the same period in 2023 [5]. Operational Challenges - Revenue contraction was primarily driven by decreased unit volumes as market demand softened, particularly in the housing sector [2]. - To mitigate the impact of lower sales, the company implemented cost-saving measures, including a reduction in raw material costs [3]. - The company faced higher fixed overhead expenses due to newly leased facilities, which increased its cost base [3]. - The balance between cost management and decreased production capacity proved challenging, impacting margins due to weakened cost absorption of factory labor and overhead [3].

Flex Ltd (FLEX) reported second-quarter fiscal 2025 adjusted earnings per share (EPS) of 64 cents, surpassing the Zacks Consensus Estimate by 14.3%. The bottom line compared favorably with 57 cents posted in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Revenues declined 6% year over year to $6.5 billion. However, it beat the consensus mark by 0.4%. The downtick was caused by continued slowdown across the Agility and Reliability Solutions business segments.I ...

| --- | --- | --- | --- | --- | |----------------------------------------------|----------------------------------------|--------------------------------|-----------------------------------------|-------------| | | Nine Months Ended September 30, \n2024 | OMEGA FLEX, INC. (OFLX) \n2023 | Three Months Ended September 30, \n2024 | 2023 | | Net Sales | $74,716,000 | $83,318,000 | $24,880,000 | $27,496,000 | | Net Income attributable to Omega Flex, Inc. | $13,332,000 | $15,874,000 | $4,617,000 | $5,576,000 | | ...

Flex (FLEX) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this electronics designer and manufacturer would post earnings of $0.41 per share when it actually produced earnings of $0.51, delivering a surprise of 24.39%. Over the last four qu ...

P R E S S R E L E A S E EXHIBIT 99.1 FLEX REPORTS SECOND QUARTER FISCAL 2025 RESULTS Austin, Texas, October 30, 2024 – Flex (NASDAQ: FLEX) today announced results for its second quarter ended September 27, 2024. Second Quarter Fiscal Year 2025 Highlights: • Net Sales: $6.5 billion • GAAP Operating Income: $297 million • Adjusted Operating Income: $358 million • GAAP Net Income attributable to Flex Ltd: $214 million • Adjusted Net Income attributable to Flex Ltd: $255 million • GAAP Earnings Per Share: $0.54 ...

AUSTIN, Texas, Oct. 30, 2024 /PRNewswire/ -- Flex (NASDAQ: FLEX) today announced results for its second quarter ended September 27, 2024. Second Quarter Fiscal Year 2025 Highlights: Net Sales: $6.5 billion GAAP Operating Income: $297 million Adjusted Operating Income: $358 million GAAP Net Income attributable to Flex Ltd: $214 million Adjusted Net Income attributable to Flex Ltd: $255 million GAAP Earnings Per Share: $0.54 Adjusted Earnings Per Share: $0.64 An explanation and reconciliation of non-GAAP fina ...

Core Insights - Flex has announced a definitive agreement to acquire Crown Technical Systems for $325 million in an all-cash transaction, expected to be accretive in the first year post-closure [1][3] - The acquisition enhances Flex's capabilities in power distribution and protection systems, particularly in the data center and utility power markets [2][3] - Crown Technical Systems is projected to generate approximately $120 million in revenue with a high-teens EBITDA margin in fiscal 2025 [3] Company Overview - Flex is a leader in manufacturing and provides technology innovation, supply chain, and manufacturing solutions across diverse industries [4] - The company operates globally with a workforce across 30 countries, focusing on responsible and sustainable operations [4] Market Impact - The acquisition positions Flex to address growing challenges in power, heat, and scale within the data center space, aligning with its long-term growth strategy [2] - It expands Flex's exposure to fast-growing markets, including modular data centers and medium voltage power distribution, driven by trends in grid modernization and energy generation growth [2]

HAMILTON, Bermuda, Oct. 16, 2024 /PRNewswire/ -- Flex LNG announces that CFO Knut Traaholt will be meeting with investors in the US and Canada as part of a non-deal roadshow. The presentation used is attached hereto and is also available on our web page.For further information, please contact:Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS Telephone: +47 23 11 40 00 Email: [email protected] About FLEX LNGFlex LNG is a shipping company focused on the growing market for Liquefied Natural ...

Flex Ltd. (FLEX) recently unveiled innovative reference platforms designed to address the challenges of power, heat generation and scale in modern data centers. These platforms are engineered with sustainability in mind, offering advanced solutions for liquid-cooled servers, rack systems and power products. Flex’s new liquid-cooled server designs, power modules and rack systems aim to support hyperscalers and data center operators by addressing the technical complexities associated with powering and cooling ...

New Flex solutions enable cloud service providers to address power, heat, and scale challenges in the AI eraNews summary Flex launches new compute, rack, and intermediate bus converter products for AI data centersFlex and JetCool® partner for direct-to-chip liquid coolingFlex's ORv3-compatible rack integrated with single-phase liquid cooling, enabled for two-phase liquid coolingSAN JOSE, Calif., Oct. 14, 2024 /PRNewswire/ -- OCP Global Summit -- Flex (NASDAQ: FLEX) today announced new reference platforms fo ...